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China Quanjude Q4 profit climbs YOY

China Quanjude (Group) Co.,Ltd said its fourth-quarter normalized net income came to 11.1 million yuan, a rise from 2.8 million yuan in the prior-year period.

Normalized net income excludes unusual gains or losses on a pre- and after-tax basis.

The normalized profit margin increased to 2.3% from 0.6% in the year-earlier period.

Total revenue came to 448.6 million yuan, compared with 451.4 million yuan in the year-earlier period, and total operating expenses fell year over year to 443.2 million yuan from 457.0 million yuan.

Reported net income increased 69.4% on an annual basis to 8.2 million yuan, or 3 fen per share, from 4.9 million yuan, or 2 fen per share.

For the year, the company's normalized net income totaled 34 fen per share, compared with the S&P Capital IQ consensus normalized EPS estimate of 47 fen.

EPS rose 6.2% from 32 fen in the prior year.

Normalized net income was 106.3 million yuan, an increase of 10.7% from 96.0 million yuan in the prior year.

Full-year total revenue totaled 1.85 billion yuan, compared with 1.85 billion yuan in the prior year, and total operating expenses came to 1.69 billion yuan, compared with 1.69 billion yuan in the year-earlier period.

The company said reported net income grew year over year to 131.1 million yuan, or 43 fen per share, in the full year, from 125.5 million yuan, or 42 fen per share.

As of March 28, US$1 was equivalent to 6.48 yuan.